The International Monetary Fund on Monday trimmed back its 2020 global growth forecasts due to sharper-than-expected slowdowns in India and other emerging markets but said a U.S.-China trade deal was another sign that trade and manufacturing activity may soon bottom out.

FILE PHOTO: Workers erect scaffolding at a construction site of a metro rail station in Kolkata, India, July 5, 2019. REUTERS/Rupak De Chowdhuri